MARKET OVERVIEW
The cable accessories are the accessories used for holdings and connecting the cable with a complete covering of insulator. The prominent application of cable accessories are power generation plants, railways, construction, electrical transmission companies, and shipping industries. The growing electricity generation and consumption, coupled with burgeoning demand for renewable energy are expected to increase the demand for transmission and distribution network which, in turn, drives the cable accessories market. The growing initiatives for upgrading the existing T&D infrastructure, rapid industrialization and urbanization and regulatory support for offshore wind policies in developing countries are the key trends leveraging the demand for cable accessories which accelerates the market growth.
MARKET SCOPE
The "Global Cable Accessories Market Analysis to 2028" is a specialized and in-depth study of the storage and distribution industry with a special focus on the global market trend analysis. The report aims to provide an overview of the cable accessories market with detailed market segmentation by voltage range, installation, end-user and geography. The report provides key statistics on the market status of the leading cable accessories market players and offers key trends and opportunities in the cable accessories market.
MARKET SEGMENTATION
- On the basis of voltage range the market is segmented into 1KV to 10KV, 10KV to 20KV, 20KV to 30KV, 30KV to 50KV, 50KV and Above
- On the basis installation, the market is segmented as Overhead, Underground, and Submarine
- On the basis end-user, the market is segmented as Private Utilities, Government Utilities, Cement, Marine, Railways, Construction, Oil and Gas, Healthcare, Renewable Energy, and Others
MARKET DYNAMICS
Drivers:
- Growing investment and expansion in smart grid technology boosts the demand for cable accessories
- Rapid urbanization, rising global population and increase in demand for renewable energy are the key factors attributable to the growth of cable accessories market
Restraints:
- Volatile Prices of Raw Materials restraints the global cable accessories market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The cable accessories market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the cable accessories market in these regions.
IMPACT OF COVID-19 ON CABLE ACCESSORIES MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted in lower sales of cable accessories in the year 2020. The cable accessories market players struggled to gain profits by selling their products worldwide. Covid 19 has caused many disruptions in the global markets. The demand for the cable accessories market had faced several challenges in the global market. The shortage of raw materials is affecting the production of cable accessories. Further, the supply chain disruption in the cable accessories market has hampered the business dynamics due to lockdowns. From the year 2021, the opening of the manufacturing industries is leading to higher demand for the cable accessories. The ongoing grid expansion projects, new investments and rising demand for renewable energy in pandemic recovering period is fuleing the demand for cable accessories which in turn drives the market growth. The developing regions in the market had witnessed a asignificant rise in demand for cable accessories. Emerging economies such as Europe and the Asia Pacific is expected to have a high demand over the coming years.
MARKET PLAYERS
The report covers key developments in the cable accessories market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the cable accessories market are anticipated to provide lucrative growth opportunities in the future with growing power consumption from consumers and rising demand for cable accessories in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the cable accessories market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- NEXANS
- Brugg Kabel AG
- NKT A/S
- PRYSMIAN S.p.A.
- Sumitomo Corporation
- Eland Cables
- ABB
- TE Connectivity
- Bahra Advanced Cable Manufacture Co. Ltd.
- LS Cable & System Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.